Affinity Asset Advisors LLC Invests $1.22 Million in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Affinity Asset Advisors LLC purchased 325,000 shares of Olema Pharmaceuticals, valued at approximately $1,222,000, indicating institutional interest in the company.
• The stock has shown a year-to-date performance range, with a 1 year low of $2.86 and a high of $13.93, reflecting significant volatility.
• Analysts have mixed sentiments on Olema Pharmaceuticals, with five giving a Buy rating and one a Sell rating, alongside an average target price of $24.00.

Affinity Asset Advisors LLC bought a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 325,000 shares of the company's stock, valued at approximately $1,222,000. Affinity Asset Advisors LLC owned 0.48% of Olema Pharmaceuticals as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Walleye Capital LLC grew its holdings in shares of Olema Pharmaceuticals by 30.9% during the 1st quarter. Walleye Capital LLC now owns 87,705 shares of the company's stock worth $330,000 after purchasing an additional 20,698 shares during the period. Portland Investment Counsel Inc. boosted its stake in shares of Olema Pharmaceuticals by 100.0% during the 1st quarter. Portland Investment Counsel Inc. now owns 50,000 shares of the company's stock valued at $188,000 after buying an additional 25,000 shares during the last quarter. Hsbc Holdings PLC increased its position in Olema Pharmaceuticals by 56.9% in the first quarter. Hsbc Holdings PLC now owns 15,698 shares of the company's stock worth $58,000 after buying an additional 5,693 shares during the period. Brooklyn Investment Group acquired a new stake in Olema Pharmaceuticals in the first quarter worth $71,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Olema Pharmaceuticals in the first quarter worth $86,000. Hedge funds and other institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Stock Down 1.1%

Shares of OLMA traded down $0.06 during midday trading on Friday, reaching $5.46. 302,991 shares of the stock were exchanged, compared to its average volume of 470,885. Olema Pharmaceuticals, Inc. has a 12-month low of $2.86 and a 12-month high of $13.93. The firm has a 50 day simple moving average of $4.94 and a 200-day simple moving average of $4.61. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The company has a market cap of $374.72 million, a price-to-earnings ratio of -2.76 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.08). Research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Analyst Upgrades and Downgrades

OLMA has been the subject of several recent analyst reports. Zacks Research raised Olema Pharmaceuticals to a "strong sell" rating in a research note on Monday, August 11th. Oppenheimer decreased their price target on Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. The Goldman Sachs Group decreased their price target on Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Citigroup increased their price objective on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. increased their price objective on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women's cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.